FEATURE/Cars and Coverage Fit for a President; MetLife Auto & Home Off

FEATURE/Cars and Coverage Fit for a President; MetLife Auto & Home Offers Insurance Tips for New-Car Buyers

    Business Editors/Insurance Writers
    FEATURE...

    WARWICK, R.I.--(BUSINESS WIRE)--Feb. 10, 2005--How Presidents' Day became a time to celebrate America's infatuation with cars has never been explained. Savvy consumers know that the third Monday in February is an excellent time to secure great deals on this year's models. To get the most for their money, many discerning car buyers will comparison shop and review new car guides before stepping on to the lot. However, to properly protect their investments, consumers should also take a few additional minutes to ensure that their auto insurance is top of the line.
    "There's a lot to consider, to ensure that you don't have unanticipated gaps in your auto coverage," said Christen White, assistant vice president of Corporate Underwriting at MetLife Auto & Home(R). "In fact, consumers may be stunned to find out that a new car depreciates up to 30 percent during the first year. That means that a person can pay $20,000 for a vehicle, but only receive $14,000 if it is 'totaled.' In many instances, consumers could find themselves owing more on a vehicle than it is actually worth. There are insurers out there, however, that do not take a deduction for depreciation during the first twelve months."
    Before purchasing a new vehicle, consumers should ask themselves the following questions:

--	What does my auto coverage actually cover? Determine in advance the level of protection actually afforded under the terms of the policy. For example, if your new car were damaged beyond repair, would your auto insurer replace the vehicle with a new one, or take that deduction for depreciation?
--	Is image everything? Certain cars look great and catch the eye, but you may end up paying more for the flair. Cars that are expensive to repair or have historically higher theft rates carry higher insurance costs. Specialty vehicles and sports cars typically cost more to insure.
--	Can I use the accessories to my advantage? If your new vehicle comes equipped with such things as anti-theft/alarm devices or anti-lock brakes, you may qualify for discounts.
--	Are there other discounts that I qualify for? Insurers offer discounts for a number of factors: driving record, certain safe driving courses, the number of drivers using the vehicle, low annual mileage, and whether the vehicle is kept in a garage overnight or parked on the street.
--	Can my good driving record work for me? In the event of a loss, certain insurance companies will reward customers for good driving habits, by offering a deductible reduction for each year of loss-free driving. Make sure to ask whether your company offers it.
--	How safe is the vehicle? Besides ensuring greater peace of mind, vehicles that are considered "crashworthy" usually cost less to insure. Before making your final decision, pay a visit to www.highwaysafety.org to rate your prospective purchase.

    For more information, MetLife Auto & Home offers two free brochures: "Buying a Car," which is part of the popular, award-winning Life Advice(R) series, and contains information about the different purchasing options available, and includes a list that will help prospective car buyers estimate the cost of buying and owning a car. "Shopping for a Safer Car" is co-branded with the Insurance Institute for Highway Safety and provides detailed information that will help consumers be "up to speed" when it comes to considering safety as part of the purchasing decision. Both can be obtained by calling 1-800-638-5433 (1-800-MET-LIFE).

    MetLife Auto & Home, an affiliate of MetLife, Inc. (NYSE: MET), is one of the nation's leading personal lines property and casualty insurance companies with more than 2.7 million policies in force. For more information about MetLife Auto & Home, visit MetLife's web site at www.metlife.com.

    MetLife Auto & Home is a brand of Metropolitan Property and Casualty Insurance Company and its Affiliates, Warwick, RI.
    Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166

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CONTACT: MetLife Auto & Home Ted Mitchell, 401-827-3236 tjmitchell@metlife.com or David Hammarstrom 401-827-2273 dhammarstrom@metlife.com

KEYWORD: RHODE ISLAND INDUSTRY KEYWORD: AUTOMOTIVE INSURANCE CONSUMER/HOUSEHOLD SOURCE: MetLife Auto & Home

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